Amazon announced The Climate Pledge Fund to support the development of sustainable technologies and services that will enable Amazon and other companies to meet The Climate Pledge—a commitment to be net zero carbon by 2040.
This dedicated venture investment program—with an initial $2 billion in funding—will back visionary companies whose products and services will facilitate the transition to a zero carbon economy.
Last year, Amazon and Global Optimism co-founded The Climate Commitment, promising to reach the Paris Agreement in the early ten years and become Net Zero Carbon by 2040. Verizon, Reckitt Benckiser (RB) and Infosys recently joined the pledge - signaling an important sent market that demand for products and services that help reduce carbon emissions will increase rapidly. Amazon’s new Climate Commitment Fund will accelerate investment in innovation for a future zero-carbon economy.
“Climate commitment funds will look to invest in visionary entrepreneurs and innovators who build products and services to help companies reduce their carbon footprint and operate more sustainably,” said Jeff Bezos, founder and CEO of Amazon.
“Companies from all over the world in all sizes and stages will be considered, from pre-product launches to well-established initiatives. Each potential investment will be judged on its potential to accelerate the path to zero carbon and protect the planet for future generations. ”
The Climate Commitment Fund will invest in multiple industrial enterprises, including transportation and supply, energy production, storage and use, manufacturing and materials, the circular economy, and food and agriculture. Over time, Amazon will look for opportunities to involve other climate pledge signatories in this venture investment program.-Interent
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